refer to the following diagram of a competitive labor market.
-Suppose the wage is currently W1 and L1 is the level of employment.If the firm sells its output competitively,the value of the last worker's additional output is _____ and the opportunity cost of the last worker's time is _____:
Definitions:
Heritability
A measure of the degree to which a variation in a particular trait among individuals in a specific population is related to genetic differences among those individuals.
Coevolution
A process by which two or more species reciprocally affect each other's evolution through natural selection.
Human Biology
The scientific study of the biological and physiological aspects of human beings, their behavior, and how they interact with their environment.
Culture
The set of knowledge, beliefs, morals, customs, laws, and habits acquired by humans as members of society, contributing to the societal values and norms.
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